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Kering Sells 5.9% Puma Stake for Around EUR805 Million

By Pietro Lombardi

 

Kering netted roughly 805 million euros ($981.7 million) by selling a 5.9% stake in German sporting-goods company Puma SE.

The French luxury-goods conglomerate said Thursday that, after the sale, it still has a stake of about 4% in the German company.

The money will be used to reinforce its financial structure and for general corporate purposes, it said.

The Puma shares were sold at EUR90.3 each to qualified investors through an accelerated bookbuilding process.

 

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

 

(END) Dow Jones Newswires

May 27, 2021 02:50 ET (06:50 GMT)

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